The Bundesbank has published the “Bezugszinssatz” (10-year zero-coupon euro swap rate) for March 2024. It amounts to 2.57 %.
The “Referenzzinssatz” for the calculation of the “Zinszusatzreserve (ZZR)” as of 31.12.2023 amounts to 1.57 %.
Assuming that the “Bezugszinssatz” remains constant, the “Referenzzinssatz” as at 31.12.2024 would be 1.57 %.
With the publication by the Deutsche Bundesbank of the “Bezugszinssatz” (10-year zero-coupon euro swap rate) for September 2023, the “Referenzzinssatz” for the calculation of the additional reserve requirement (“ZInsszusatzreserve” or “ZZR”) as at 31 December 2023 is fixed. As in the two previous years, it will be 1.57%. The calculation method of the Referenzzinssatz according … Read more …
With the publication of the “Bezugszins” interest rate (10-year zero-coupon euro swap rate) for September 2022 by the Bundesbank, the (“Referenzzinssatz”) reference interest rate for the calculation of the “ZInszusatzreserve” (ZZR) is fixed as of 31 December 2022. It is 1.57%, as in the previous year.
The new regulation to change the Deckungsrückstellungs-Verordnung and Pensionsfonds-Aufsichtsverordnung has been published in the edition of the Bundesgesetzblatt (Federal Law Gazette) of 22 October 2018. The new rules for calculating the additional interest reserve thus come into force just in time for their application on 31.12.2018. The regulation has again been slightly amended in comparison with the draft bill in order to clarify the calculation rules.
Finally, after a long wait, the Federal Ministry of Finance presented a draft bill dated 14.9.2018 on the amendment of the “Regulation on the Principles Underlying the Calculation of the Premium Reserve” for life insurers and pension funds. It is intended that the new version will come into force this year in order to enable the calculation of the actuarial reserve as at 31.12.2018 according to the new methodology.